Thursday’s movers: Apple ends in red on price cut

Herbalife retreats as Bill Ackman makes his case

GregMorcroft

SAN FRANCISCO (MarketWatch) — Shares of Jabil Circuit Inc., NYSE Euronext and Bed Bath & Beyond Inc. made big moves during U.S. trading Thursday, while Apple Inc. and Herbalife Ltd. were among top trending tickers.

Top tickers trending

$AAPL: Apple
AAPL, -1.54%
shares closed in negative territory after Bernstein Research cut its price target to $750 from $800. “Apple’s growth is slowing. It has to - let’s not fool ourselves,” said Toni Sacconaghi in a note. But the company is still in a good position due to its momentum in smartphones and tablets, he said.

Thursday being the eve of the end of the world, according to some who still cling to the belief that the Mayan calendar foretells some cataclysmic global event, there were quite a few tweets referencing gold, apocalypse and the Mayans.

@ldelevingne: Apparently, the world ends tomorrow. Short $APPL? Long $GLD? Macro hedge funds, this is your time to shine!

@johbus: Mayans are cashing in their $GLD and $SLV for one last blow-out....

$HLF: Herbalife
HLF, +0.09%
shares remained under siege as Pershing Square Capital Management’s Bill Ackman took the stage to expound upon why he has a short position in the stock. The hedge fund manager again referred to the company as a pyramid scheme and then turned over the presentation to another Pershing analyst, Shane Deneen, according to Barron’s. See Barron’s live blog of Ackman’s presentation

Herbalife logo

Herbalife fell by double digits on Wednesday in response to reports that it is the latest stock to join Ackman’s hit list.

The Los Angeles-based company struck back by claiming Ackman owns put options that are due to expire, a claim he has denied.

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